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Management article
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Reference no. B0803D
Published by: Harvard Business Publishing
Published in: "Balanced Scorecard Report", 2008

Abstract

How far should organizations go in abiding by stakeholders'' interests? According to stakeholder theory, strategy should take into account, if not be built around, stakeholder interests. Nonsense, argues Robert Kaplan. Such an approach is not only wrong-headed, it''s impracticable. Companies can account for any stakeholder considerations they view as important through their Balanced Scorecard and strategy map - and hold performance to them without compromising strategy or their ability to adjust it to changing conditions.

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Abstract

How far should organizations go in abiding by stakeholders'' interests? According to stakeholder theory, strategy should take into account, if not be built around, stakeholder interests. Nonsense, argues Robert Kaplan. Such an approach is not only wrong-headed, it''s impracticable. Companies can account for any stakeholder considerations they view as important through their Balanced Scorecard and strategy map - and hold performance to them without compromising strategy or their ability to adjust it to changing conditions.

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